USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
241 0 5
USD/JPY             is trading above short term moving average and also above Tenkan-Sen, Kijun-Sen. This indicates that it has formed temporary bottom around 115.50.
The pair’s minor resistance is around 119.60 and any break of will target 120.48/121 in short term.
On the downside minor support is around 119.25 (34 Hourly EMA ) and any break below will take the pair to 119/118.40.

Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 119.25, SL 118.98, Target 119.60/120.

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